EBF MORNING BRIEF Tuesday 27 September 2022 Good morning. Here are the top news stories and events in European banking, financial regulation and EU policy, brought to you by the European Banking Federation.
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FROM THE MEDIA
Reuters: Banks in the euro zone will have to raise provisions to cope with economic slowdown
As reported by Reuters, banks in the eurozone will have to raise provisions to cope with the consequences of the economic slowdown due to the fallout from Russia's war in Ukraine. "We are already trying to get the banks to bring forward their plans because it is going to have an impact without a doubt," European Central Bank (ECB) Vice-president Luis De Guindos said. Read more
CoinDesk: ECB exploring DLT for interbank settlements
The European Central Bank (ECB) is looking at "the potential" of distributed ledger technology (DLT) in improving the efficiency of interbank settlements, said Fabio Panetta, a member of the executive board. Panetta made a case for a system that builds on the ECB's existing infrastructure for wholesale settlements instead of building a new one based entirely on DLT, CoinDesk reports. Read more
Bloomberg: Lagarde says ECB rates to be lifted for ‘several meetings’
The European Central Bank (ECB) will continue increasing borrowing costs, even with economic activity expected to “slow substantially,” according to President Christine Lagarde. According to Bloomberg, ECB officials say economic weakness won’t stop them from lifting rates further. Read more |
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MAIN EVENTS For a full-year overview of key financial regulation events: click here |
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FROM EBF MEMBERS BdB: Economic forecast of the banking association According to the economic forecast of the Association of German Banks (BdB), the German economy slides into recession in winter. For the coming year, the banking association expects gross domestic product to fall by 1.3%. Read more (DE) UK Finance: Families fleeing Ukraine to gain access to banking facilities The UK banking sector has taken steps to ensure that Ukrainian families living in the UK can open bank accounts without difficulty and organisations have implemented changes to policies and processes to assist people. In particular, UK Finance members have made sure that refugees have access to support information and guidance. Read more
FBF: Employment in banks
The French Banking Federation (FBF) published a Memo on employment in banks. French banks appears to be among the main employers in the private sector, and offers sustainable and increasingly qualified jobs. As the profile of employment is in full transformation, core issues as training and professional integration, gender equality and social dialogue have become subjects on which the banks are committed. Read more (FR) |
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FROM THE INSTITUTIONS ECB: Demystifying wholesale central bank digital currency Executive Board member of the European Centreal Bank (ECB), Fabio Panetta, took part at the Symposium on “Payments and Securities Settlement in Europe – today and tomorrow” hosted by the Deutsche Bundesbank. He talked about wholesale central bank digital currency and modernising the payment infrastructure underpinning our financial system to meet evolving user demands. Read more
ESMA: Consultation paper on market outages
The European Securities and Markets Authority (ESMA) consults on how National Competent Authorities (NCA) should ensure that trading venues have appropriate communication protocols in case of a market outage. The consultation paper seeks feedback from market participants on its proposed guidance, which will apply to equity markets and, where applicable, to non-equity instruments. Read more
BIS: EU framework for macroprudential supervision through BBMs
Luigi Federico Signorini, Senior Deputy Governor of the Bank of Italy debated on the initiatives foreseen by the European Commission in the field of borrower-based measures (BBMs). "Wherever the legislative process ends up, the rules on BBMs should be as cross-cutting and ‘activity-based’ as possible," he says in a speech published by the Bank for International Settlements (BIS). Read more |
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FROM THE EBF
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ABOUT THE EUROPEAN BANKING FEDERATION
The European Banking Federation is the voice of the European banking sector, bringing together national banking associations from across Europe. The federation is committed to a thriving European economy that is underpinned by a stable, secure and inclusive financial ecosystem, and to a flourishing society where financing is available to fund the dreams of citizens, businesses and innovators everywhere. Website: www.ebf.eu |
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